Team, Inc. (NYSE:TISI)’s share price was down 8.4% during mid-day trading on Wednesday . The stock traded as low as $16.60 and last traded at $16.90. Approximately 2,294,501 shares were traded during trading, an increase of 352% from the average daily volume of 507,132 shares. The stock had previously closed at $18.45.
Several equities analysts have recently issued reports on TISI shares. Zacks Investment Research downgraded Team from a “hold” rating to a “sell” rating in a research report on Thursday, November 16th. Johnson Rice upgraded Team from a “hold” rating to an “accumulate” rating and set a $24.00 price objective for the company in a research report on Tuesday, January 23rd. Stephens upgraded Team from an “equal weight” rating to an “overweight” rating in a research report on Monday, January 22nd. Finally, KeyCorp boosted their price objective on Team to $19.00 and gave the stock an “overweight” rating in a research report on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. Team currently has a consensus rating of “Hold” and an average target price of $20.67.
The company has a debt-to-equity ratio of 0.81, a current ratio of 2.68 and a quick ratio of 2.32. The firm has a market cap of $560.89, a PE ratio of -4.61 and a beta of 1.48.
In other Team news, Director Jeffery Gerald Davis acquired 3,829 shares of Team stock in a transaction dated Friday, December 15th. The stock was acquired at an average cost of $13.75 per share, for a total transaction of $52,648.75. Following the completion of the transaction, the director now owns 21,398 shares in the company, valued at approximately $294,222.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.
Large investors have recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its holdings in Team by 49.6% during the third quarter. JPMorgan Chase & Co. now owns 403,235 shares of the business services provider’s stock worth $5,463,000 after purchasing an additional 133,753 shares in the last quarter. Sei Investments Co. raised its holdings in Team by 50.6% during the third quarter. Sei Investments Co. now owns 48,123 shares of the business services provider’s stock worth $643,000 after purchasing an additional 16,178 shares in the last quarter. Engine Capital Management LLC raised its holdings in Team by 44,852.4% during the third quarter. Engine Capital Management LLC now owns 429,745 shares of the business services provider’s stock worth $5,737,000 after purchasing an additional 428,789 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Team by 156.4% during the third quarter. Russell Investments Group Ltd. now owns 415,100 shares of the business services provider’s stock worth $5,540,000 after purchasing an additional 253,187 shares in the last quarter. Finally, 22NW LP raised its holdings in Team by 1,214.4% during the third quarter. 22NW LP now owns 327,907 shares of the business services provider’s stock worth $4,378,000 after purchasing an additional 302,959 shares in the last quarter. 96.88% of the stock is currently owned by hedge funds and other institutional investors.
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Team, Inc is a provider of specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group.
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